The huge cost of ransomware attacks

Ransomware attacks have cost millions. Picture: AFP

VICTIMS of ransomware have paid out almost $32 million to online saboteurs over the last two years, a study has found.

The recent Wannacry and Petya ransomware strains have shown how vulnerable computer systems in Australia and around the world are to such attacks.

And now researchers at Google, Chainalysis, the University of California San Diego, and New York University’s Tandon School of Engineering have revealed the monetary cost of such attacks and how willing those affected are to pay up.

RELATED: Ransomware attacks linked to North Korea

Jarrod Sierocki

Staff monitor the spread of ransomware cyberattacks at the Korea Internet and Security Agency in Seoul. Picture: GettySource:AFP

The study tracked 34 separate families of ransomware, but it was a few major strains that brought in most of that $32 million figure.

The data revealed a ransomware strain named ‘Locky’ that brought in $8.85 million was the “patient zero” of this recent problem.


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